| 401(k) Plan
Archdiocese of Boston 401(k) Plan Has Moved to Voya
Voya Financial is now the recordkeeper for the RCAB 401(k) Retirement Savings Plan. Assets transferred to Voya from TIAA in mid-December 2022. Participants can contact Voya for information about their accounts online at rcab.voya.com or 855-817-1664. Learn more about your new account with Voya.
Eligibility and Automatic Enrollment
Benefit-eligible lay employees hired, rehired or changing to benefit-eligible at locations participating in the RCAB 401(k) Plan are automatically enrolled in the 401(k) Plan with a 3% pre-tax deferral if no election is made within 45 days from the date of hire, rehire date or date of change to benefit-eligible (sample Notice of Automatic Enrollment).
Basic information regarding the Plan is available in English, Spanish, and Portuguese.
The 401(k) Plan’s employer matching contribution is 100% of the first 3% contributed plus 50% of the next 2% contributed, for a maximum of 4% for employees who contribute at least 5% of their eligible wages. A chart of Plan Highlights is available in English, Spanish, and Portuguese. New participants are initially invested in the American Funds Target Date fund based on the participant’s age. A range of investment options is available. Visit rcab.voya.com for more information.
Diocesan priests and those incardinated to the Boston Archdiocese are also eligible to participate in the 401(k) Plan. The same matching contribution applies to priests that applies to lay employees. Review these Plan Highlights for Priests to learn more.
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